In the lead up to the start of the 2014 General Assembly session, which convenes on Wednesday, Feb. 5, we are dedicating our Sunday editorials to issues that are likely to be part of this year’s legislative deliberations.

And there are no issues more important than the state’s fiscal standing and jobs.

Connecticut is on track to finish the current fiscal year on June 30 with a surplus, estimated by Comptroller Kevin Lembo to be in the $273 million range.

Ending the fiscal year with a surplus in an election year is not a coincidence. The biennial budget adopted last year was designed specifically for that purpose, using familiar budgetary gimmicks of the past to create the illusion of fiscal stability.

It was those same budgetary gimmicks in the past that created the $3.6 billion deficit that Gov. Dannel P. Malloy inherited when he took office in January 2011. By employing those same fiscal tricks again, projections are that the state will face another $1.1 billion shortfall in the fiscal year immediately following this November’s election.

This is not a sound fiscal strategy.

Repeating the past

Webster Bank economist Nick Perna, in remarks to some 500 business leaders at the Connecticut Business & Industry Association’s 2014 economic summit recently, according to CTMirror.com, likened the state’s use of fiscal tricks to balance the budget to the movie “Groundhog Day,” adding that “at least Bill Murray made you laugh; this makes you cry.”

That lack of fiscal stability poses a serious threat to an already fragile and still weak economy.

On the job front, the state has gained between 15,000 and 20,000 jobs in 2013, and is on track to gain another 20,000 new jobs this year and even more in the following year. Those are clearly positive signs of recovery.

But when those numbers are put into perspective, a different picture emerges - an economic recovery that remains sluggish and lagging behind rest of the nation. To date, the state has recovered only half of the 121,000 jobs lost during the recession, and projections are that it will take until 2017 before we break even.

Of equal concern is the amount of borrowing the state has done. There is a delicate balance between making wise economic development investments and currying political favor by funding pet projects -- an annual tradition among lawmakers in election years.

Budget adjustments

The primary objective of the Legislature’s “short session” is to make whatever budgetary adjustments are needed to adapt to changing economic conditions. Only legislative committees are permitted to submit legislation during the session, and all legislation submitted is limited to dealing with budgetary matters.

However, the reality is that there are few issues that have no impact on the budget, and therefore every issue that is raised during the upcoming session will have a fiscal impact.

Poor fiscal decisions made now will exasperate the looming deficit problems on the horizon after the election, and that in turn can negatively impact the state’s economic recovery.

Connecticut can ill afford to continue fiscal policies that are based on two-year election cycles, nor is the continued reliance on borrowing and budgetary gimmicks to balance budgets a responsible and fiscally sound practice.

A projected surplus is a tempting invitation to increase spending on pet projects, especially in an election year. Fiscal discipline is harder, but that’s what is needed more.